When the National Consumer Law Center published the report Installment Loans: Will States Protect Borrowers From a New Wave of Predatory Lending? in July 2015, predatory installment lenders were moving into the states, seeking statutory authority to make consumer installment loans at sky-high interest rates. The report analyzed which states allowed high-cost installment lending and which did not, but warned that state laws that protect citizens from predatory high-cost lending were under attack.
Curious as to how your state rates in halting high-cost installment loans? Find out in the National Consumer Law Center’s (NCLC) report: Predatory Installment Lending in 2017: States Battle to Restrain High-Cost Loans.